Philippines' Figaro Coffee Group bares 2022 expansion plans

For the first quarter, it plans to open five Angel’s Pizza outlets.

Figaro Coffee Group, Inc. disclosed its expansion plans for 2022 which will use a portion of the around $15m (P767m) it raised in its initial public offering at Philippine Stock Exchange.

FCG plans to open 29 Angel’s Pizza outlets, six The Figaro Group Express multi-brand outlets, five Figaro Coffee shops, and one Tien Ma’s Taiwanese restaurant for the year.

For the first quarter, the group is set to open five Angel’s Pizza stores in Lipa in Batangas province, Hanston Building in Ortigas Center, Cebu City, Calamba in Laguna province, and in Avida Towers Cityflex in Bonifacio Global City.

“The opening of outlets in BGC and Ortigas Business District is part of our optimism that offices and the economy will come back,” FCG Chairman Justin Liu said.

“Furthermore, we see continued growth and strength outside Metro Manila, hence our new stores in Lipa, Cebu and Laguna. We will continue to grow our outlets to reach our beloved customers and meet them where they are,” he added.

FCG operated a total of 109 stores as of 21 January, including 56 Figaro coffee shops, 39 Angel’s Pizza outlets, six Tien Ma’s Taiwanese cuisine, seven The Figaro Group Express outlets, and one Café Portofino outlet.

$1 = P51.04